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Volcker rule ushers in era of increased oversight of trades
trueWall Street faces more intensive government scrutiny of trading after U.S. regulators issued what they billed as a strict Volcker rule Tuesday, imposing new curbs designed to prevent financial blowups while leaving many details to be worked out later.
BNY Mellon closes U.S. derivatives clearing business
trueBank of New York Mellon closing its U.S. derivatives clearing business.
Obama names CFTC chairman nominee
trueTimothy Massad, the Treasury Department official responsible for overseeing the U.S. rescue of banks and automakers after the credit crisis, will be nominated to head the Commodity Futures Trading Commission.
Illinois SURS sues global banks for monopolizing CDS markets
trueIllinois State Universities Retirement System, Champaign, accused J.P. Morgan Chase, Goldman Sachs, Bank of America, and 11 other global banking institutions and dealer groups for monopolizing the credit default swap markets, inflating transaction costs and obstructing formation of alternative CDS platforms, according to a lawsuit filed in U.S. District Court in New York.
With collateral a prized resource, margin analysis a key capacity
trueIt has been more than three years since the G-20 made mandatory clearing of over-the-counter derivatives a priority. Implementation of clearing mandates has been arduous, but this year has marked a turning point. While the initial focus of derivatives participants will be on basic compliance, the ...
Swaps exchange's new COO was co-CEO of eSecLending
trueKaren O'Connor was named COO at swaps exchange trueEX.
S.A.C. accepts guilt for insider trading in $1.8 billion SEC settlement
trueS.A.C. Capital Advisors and three affiliated companies will plead “guilty to every count” of an insider-trading indictment and will pay an additional $1.2 billion to settle charges.
AlphaMetrix closing down funds of funds
trueAlphaMetrix Group announced it will shut down the funds of funds it manages using hedge/managed futures funds running trading strategies on its investment platform on Thursday.
AlphaMetrix ordered to repay managers on its managed account platform
trueThe National Futures Association ordered AlphaMetrix Group to pay $600,000 of management and incentive fees owed to some of the 90 managed futures funds, commodity trading advisers and hedge funds on its managed account platform by Nov. 1.
Knight Capital to pay $12 million in trading glitch case
trueKnight Capital Americas LLC will pay $12 million to settle charges brought by the SEC over a computer trading glitch that cost the company as much as $460 million in erroneous trading orders in August 2012.
Witnesses to a revolution
trueThe landscape of institutional investing was beginning a transformation at the time Pensions & Investments published its initial issue in October 1973.
Easing trading risks from market fragmentation and tech arms race
trueThe August interruption in Nasdaq service is merely the latest example of the increasing instability of the U.S. equity market.
N.Y. attorney general discusses ongoing investigation of high-frequency traders
trueNew York Attorney General Eric Schneiderman said Friday that his office is investigating several high-frequency trading organizations that gain advantages by receiving market information early.
White: SEC to crack down on sophisticated trading, dark pools
trueThe SEC plans to bring more actions on trading, Mary Jo White, SEC chairwoman said Thursday before some 400 attendees at the Council of Institutional Investors conference in Chicago.
Communication key to OTC derivatives rules changes, report states
trueEarly and comprehensive consultation among regulators is key to any cross-border changes in OTC derivatives rules, according to a report by regulators in the U.S., European Union, Japan and five other countries, along with provincial authorities in Ontario and Quebec.